BAKU, Azerbaijan, April 1. Plenitude has completed the previously announced transaction allowing Energy Infrastructure Partners (EIP) to increase its stake in the company’s share capital to 10%, Trend reports.
EIP is a Swiss fund manager focused on investments in energy industry trends.
The transaction was carried out through a capital increase of approximately 209 million euros. Combined with a 588 million euro investment made in March 2024, EIP’s total investment in Plenitude now stands at approximately 800 million euros.
The transaction confirms an equity value of around 8 billion euros and an enterprise value exceeding 10 billion euros. It has received approval from the relevant authorities.
Plenitude CEO Stefano Goberti stated that the transaction strengthens the company’s financial position and supports its growth strategy in the energy transition. EIP Partner Tim Marahrens highlighted confidence in Plenitude’s integrated business model and its ability to capitalize on developments in the sector.
Plenitude operates in over 15 countries, integrating renewable electricity generation, retail energy solutions, and e-mobility. The company currently has more than 4 GW of renewable capacity, over 10 million European customers, and a network of 21,000 electric vehicle charging points. By 2028, it aims to reach 10 GW of installed renewable capacity and expand its customer base to over 11 million.